Sportsbooks – What Are They?

Do you enjoy betting on sports? Have you ever wanted to place a bet on a non-sporting event? Do you wish you could bet on a horse race without going to a race track? If you answered yes to any of these questions then sportsbooks are just what the doctor ordered. Sportsbooks are basically legal bookmakers who set odds and take bets on sports and on just about anything you can think of from the winner of this years Super Bowl to who will win next years Oscar for best actor and then some. Sportsbooks are found as both land based establishments and online. As an industry, they generate of billions of dollars a year in revenues. People love to make bets and sportsbooks are major part of the worlds legal gambling industry.

Land based sportsbooks are found in the United States, the United Kingdom, Europe, the Caribbean, Australia and other countries where gambling is legal. Land based sportsbooks are found in hotels, casinos and in stand alone facilities. They are typified by their ever present betting windows and electronic tote boards that display the odds for the various events and the results and payouts of completed events. Modern sportsbooks may also allow bets to be placed through interactive ticket vending machines that replace the human being with a video monitor. Most establishments provide screens where you can watch many of the sporting events live. High end sportbooks may provide banks of big screen tvs and lots of comfortable seating where gamblers can relax as they watch the sporting events unfold. Sportsbooks in big hotels and casinos even provide food and drinks for bettors to enjoy as they gamble. Just like in the casinos, providing bigger perks and extras makes a sportsbook more attractive to the gambler. In the U.S., sportsbooks are only legal in Las Vegas where there are over 150 sportsbooks. Since the Las Vegas sportsbooks are found in hotels and casinos, they tend to follow the standard Vegas rules for opulence and excess. With so many sportsbooks in one small city, the more a sportsbook can offer in the way of extras, the more they may attract business.

In contrast to Las Vegas, land based sportsbooks in the UK tend to take on a different form. British sportsbooks are also called betting shops and are mainly found on local steets among all the other stores and businesses. This gives sportbooks a neighborhood flavor and many Britons have their personal favorite betting shop. There are several large British corporations, including William Hill and Ladbrokes, that own large numbers of sportsbooks. It does tend to reduce the gamblers ability to shop for odds when a chain like William Hill owns 2300 plus betting shops in England and Ireland. Even so, sportsbooks are an important part of the British culture and economy. Between Ladbrokes and William Hill alone, they took in a gross revenue of over £2 billion in 2008, which has contributed substantially to British tax revenues. Figures like these point out just how important legalized gambling can be to any nations economy.

Modern online sportbooks are basically the same as land based sports books when it comes to the actual events covered and the types of bets accepted. Since online sportsbooks have generally less overhead than land based sportsbooks, they often offer lower fees and more perks. Because of the data sharing capabilities of the internet, online sportsbooks can offer bettors easy access to sports schedules, sporting news, extensive statistics and results of previous events to assist them with handicapping and planning their bets. Since internet based sportsbooks tend to have a more global focus, most online sportsbooks cover just about every type of sports bet and prop bet you can imagine. Perhaps the best advantage of online sportsbooks is the lack of crowds and the lack of distractions. Online, all this can be enjoyed from the comfort of home or anywhere the gambler has internet access.

Online Sportsbooks have become very popular with the growth of internet based gambling. Just like with casinos and poker rooms, it is important to find fun and trustworthy sportsbooks. Here, our goal is to bring you all the information you need to find the safest and most enjoyable sportsbooks. To assist you with this, we will be reviewing sportsbooks on a regular basis, providing feature articles on sportsbooks and bringing you our users comments and feedback. We also suggest using internet search engines and online blacklists to find the best sportbooks and to eliminate the bad ones. You can do a search on Google and other search engines by using keywords like Blacklisted Sportsbooks or Rogue Sportsbooks.  They have a list of sportsbooks to avoid and an extensive blacklist of dishonest or incompetent sportsbooks.

Here are links to some of our favorite sportsbooks: (Listed Alphabetically)

1. Bet365 Sportsbook

2. Bodog Sports

3. Bookmaker Sportsbook

4. Diamond Sportsbook

5. Pinnacle Sports

THE VIG, THE RULES AND TYPES OF BETS:

Sportsbooks make their profits from what is called the vigorish, which is the fee charged on a bet by the sportsbook. For example, a bettor might have to wager $55 on a game to win $50. The extra $5 is the sportsbooks fee for booking the bet. It is important to note that sportsbooks may have a different policy about when a game is complete than the official league policy about when a game is complete. Bets may be paid when the game is finished or in the event a game is not completed, bets will be paid if the game was played long enough to be considered official. (Such as baseball in which a game is considered official after 5 and 1/2 innings.) Bettors should be sure to carefully read the sportsbooks rules and policies and make sure they understand them.

Sports and Sporting events are the primary business of sportbooks. The sports covered may include auto racing, baseball, basketball, boxing, football, golf, hockey, horse racing, mixed martial arts, soccer or tennis. Gamblers can wager on just about any sport or sporting event. Bets are taken on both professional and amateur sports. In the United States; football, basketball, horse racing and baseball are particularly well liked by bettors. In the United Kingdom and other countries; soccer, horse racing and motor sports are quite popular. Depending on the country, national and regional sports like cricket, rugby or Aussie rules football can be big favorites. In Japan, for example, gamblers can find local shops in all major cities, that sell tickets on sports like auto racing, boat racing and bicycle racing.

In addition to their primary business of taking bets on the outcome of sporting events, sportsbooks also take what is known to gamblers as Prop Bets. Prop bets can be placed on just about anything from the results of the next presidential election to how many pounds a certain celebrity will lose on her new diet. Non-sports based prop bets might cover subjects like politics, election results, entertainment, business, the stock market, diet and health issues or just about anything else you can conjure up a bet on. Prop bets can also revolve around sporting events. Sports prop bets might include: which team will score first in a game, how many homeruns will be hit in a game, the total runs scored in a baseball game, how many games a team will win in a season, will a certain player score a goal in a hockey game or will a boxer win by knockout. Probably the worlds biggest event for generating prop bets is the Super Bowl. This one football game generates many different prop bets and provides a substantial portion of the Super Bowls total betting action. Overall, prop bets provide fun and add excitement for gamblers. Prop bets can be placed on single events or on events that take place over a period of time. They also tend to vary from sportsbook to sportsbook. Some sportsbooks may offer many different prop bets while others only offer a few.

There are several other types of bets that are often offered by sportsbooks. These include the Future Wager, in which a bet is placed on future event. One example is a bet that is placed at the beginning of the American football season, on which team will win the Super Bowl. Another popular bet is the Parley bet. This bet requires the bettor to bet on a series of events such as the winner of the next 5 New York Yankee baseball games. If the bettor chooses the winners of all 5 games, he or she wins a substantial amount, but if the bettor has a losing bet in any of the games, the entire bet is lost. Next, we have the Head to Head bet, in which the bettor bets on how participants will do against each other, instead of on the winner of the event. An example of a head to head bet might be a bet on the 100 yard dash in track and field, where the bettor picks 2 or 3 of the competitors and how they will place in the race among the other runners. These are some of the better known betting varients offered by sportsbooks, but they are by no means, all of them.

MONEYLINES, POINT SPREADS AND ODDS:

Betting can be done using a straight-up or moneyline bet, which tells bettors the amount needed, for example, to win $50 on the favorite, or the amount paid out on a $50 bet on an underdog. Another popular type of bet is called the points spread bet, in which the bet is based on pre-determined differences in the final score of the game. The moneyline bets are used for heads up events like boxing or tennis and for team sports where using a point spread is impractical, like soccer, baseball or hockey. Point spread bets are most common for games like American football and basketball, where there are often high scores and wide ranges in the score between the winning team and the losing team.

The next time you want to make a bet on the the NBA Finals or wager on whether the NY Stock Exchange finshed the week up or down, logon to your favorite sportsbook and place your bets. When it comes time to start your office pool for the Super Bowl, instead of having to designate someone to collect all the bets and keep the records, contact your favorite sportsbook and arrange for them to handle it all for your with a minimum of effort and completely legally. Sportsbooks are a terrific addition to ones enjoyment of gambling and really expand your betting horizons. So place your bets and as always, remember to gamble for fun and within your limits. May all your bets be winners.

Leave a Reply

Your email address will not be published. Required fields are marked *